Zoglobyk expands outside Israel for the first time: acquires 70% of a meat substitute plant in Thailand
The Zoglobyk Group has signed a deal to acquire 70% of the Plant & Bean factory in Thailand, which produces meat substitutes and plant-based products; the deal amount was not disclosed. Meanwhile, Eli Zoglobyk will be appointed President of International Operations and will move to Thailand; Zion Balas will replace him as active Chairman.
A year after the investment fund AP Partners entered Zoglobyk, the Israeli food company is taking its first step outside of Israel. The group announced this morning (Tuesday) that it has signed a deal to acquire 70% of the Plant & Bean factory in Thailand, which produces meat substitutes and plant-based products. The deal amount was not disclosed.
The factory, which covers an area of approximately 3,000 square meters, manufactures products it developed itself alongside private label products and custom orders for external clients. According to Zoglobyk, its clients include major food companies in Europe and the USA, including one of the largest companies in the plant-based food sector. The company did not disclose the names of the clients.
The remaining 30% of Plant & Bean is held by Innobic, the life sciences arm of PTT, the state-controlled Thai energy conglomerate. Innobic operates in the fields of food, pharmaceuticals, and nutritional supplements, among others.
Zoglobyk plans to use the factory as a production platform for both the Israeli market and clients abroad. As part of the investment, the company expects to double the factory's area and add production lines with the goal of increasing its activity in the vegetarian products sector. Some of the production will be marketed under external clients' brands using a white-label model.
Changes in the group's management
Alongside the deal, Zoglobyk is making changes to the group's management. Eli Zoglobyk will be appointed President of International Operations and will move to Thailand to lead the new activity. Zoglobyk has previous experience in the meat substitute field, having founded a company in the sector in the US in the 90s, which was acquired by Nestlé.
At the same time, Zion Balas will be appointed active Chairman of the Zoglobyk Group, replacing Eli Zoglobyk. Balas previously served as CEO of Strauss Israel and CEO of Strauss Coffee, and he is joining the group as part of its expansion of operations outside of Israel.
"The connection to the production infrastructure in Thailand, alongside a Thai partner like Innobic through PTT, gives us a platform for operations in markets outside of Israel," said Eli Zoglobyk.
The deal comes, as mentioned, after AP Partners joined Zoglobyk as a major shareholder in August 2025. Zoglobyk, which was founded 89 years ago and operates from the Western Galilee, currently focuses mainly on the Israeli market and produces, among other things, meat products, sausages, and hot dogs, alongside plant-based products.
